Red Violet (NASDAQ:RDVT) Shares Gap Up – Still a Buy?

Red Violet, Inc. (NASDAQ:RDVT) gapped up prior to trading on Friday . The stock had previously closed at $38.02, but opened at $39.66. Red Violet shares last traded at $39.50, with a volume of 37,884 shares changing hands.

Red Violet Stock Up 6.8 %

The business has a fifty day moving average of $37.43 and a 200 day moving average of $33.47. The firm has a market cap of $560.23 million, a P/E ratio of 112.83 and a beta of 1.49.

Red Violet Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.30 dividend. The ex-dividend date was Friday, January 31st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC grew its stake in Red Violet by 56.4% in the fourth quarter. Squarepoint Ops LLC now owns 43,928 shares of the company’s stock valued at $1,590,000 after acquiring an additional 15,840 shares during the period. Occudo Quantitative Strategies LP acquired a new position in Red Violet in the fourth quarter valued at about $304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Red Violet by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,274 shares of the company’s stock valued at $227,000 after acquiring an additional 259 shares during the period. Lazard Asset Management LLC grew its stake in Red Violet by 65.3% in the fourth quarter. Lazard Asset Management LLC now owns 34,518 shares of the company’s stock valued at $1,249,000 after acquiring an additional 13,631 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Red Violet by 32.4% in the fourth quarter. Janus Henderson Group PLC now owns 32,190 shares of the company’s stock valued at $1,165,000 after acquiring an additional 7,885 shares during the period. 63.56% of the stock is owned by institutional investors and hedge funds.

About Red Violet

Red Violet, Inc, a software and services company, specializes in proprietary technologies and applying analytical capabilities to deliver identity intelligence in the United States. It offers idiCORE, an investigative solution used to address various organizational challenges, which include due diligence, risk mitigation, identity authentication, fraud detection and prevention, customer acquisition, and regulatory compliance; and FOREWARN, an app-based solution that provides instant knowledge before face-to-face engagement with a consumer, as well as helps professionals to identify and mitigate risk.